Ed wants to buy a car for $17,500. His Credit union approves him for a car loan with a 6.8% APR as long as you puts 20% down. He

Question

3 years ago

5

Ed wants to buy a car for $17,500. His Credit union approves him for a car loan with a 6.8% APR as long as you puts 20% down. He

is looking into the following options.
1) How much money would Ed have to put down to qualify for the loan?

2) What would the loan amount be?

Option A: Pay $400 per month.

3) What would be the length of his loan? Round to the nearest tenth of a year.

4) What is the total amount of interest Ed would pay over the life of this loan?

Option B: Pay $350 per month.

5) What would be the length of his loan? Round to the nearest tenth of a year.

6) What is the total amount of interest Ed would pay over the life of this loan?

Mathematics

1 answer:

kkurt [141] · Answer 1 · 2022-07-24T10:08:00+03:00

kkurt [141]3 years ago

5 0

Answer:

Thank you for the freeeee points.

Step-by-step explanation: